Obama vetoed Keystone pipeline

Everett Rosenfeld-- CNBC

President Barack Obama vetoed legislation that approved construction of the Keystone XL pipeline.

After Congress passed the bill earlier this month, Obama made good on his many promises to veto the bill Tuesday afternoon, after which he notified the Senate. The move marked only the third veto of Obama's presidency, although most predict many more to come.

Senate Majority Leader Mitch McConnell said his chamber would consider overriding the veto no later than March 3. Most D.C. commentators have concluded that the Senate would not be able to secure enough votes for the required two-thirds majority.

House Speaker John Boehner called the veto "a national embarrassment" in a Tuesday release, accusing the president of being "too close to environmental extremists to stand up for America's workers."

The president has consistently expressed his opposition to the legislation, even referencing it in his January State of the Union address. The White House has argued that the State Department should finish its assessment of the pipeline, as the project may not create as many jobs as supporters have claimed.

"Through this bill, the United States Congress attempts to circumvent longstanding and proven processes for determining whether or not building and operating a cross-border pipeline serves the national interest," Obama wrote in his message to the Senate.

The president added that because "this act of Congress conflicts with established executive branch procedures and cuts short thorough consideration of issues that could bear on our national interest—including our security, safety, and environment—it has earned my veto."

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